On February 8, 2021, in the latest turn in the saga of a closely-watched ERISA cybersecurity lawsuit, the Northern District of Illinois again dismissed fiduciary breach claims against Abbott Laboratories (“Abbott Labs”)...more
Brief Takeaway -
As a result of the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”), plan sponsors and service providers across the country are bracing for a flurry of participant activity with respect to...more
4/16/2020
/ Breach of Duty ,
CARES Act ,
Coronavirus/COVID-19 ,
Cyber Threats ,
Defined Benefit Plans ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Duty ,
Fraud ,
Relief Measures ,
Retirement Plan
Brief Takeaway: Plan sponsors that offer employer stock in their benefit plans can breathe a sigh of relief, as the Supreme Court vacated one of the only plaintiff-friendly rulings in ERISA “stock drop” litigation. ...more
1/17/2020
/ Appeals ,
Breach of Duty ,
Corporate Officers ,
Dismissals ,
Duty of Prudence ,
Employee Retirement Income Security Act (ERISA) ,
Employee Stock Purchase Plans ,
ESOP ,
Failure To Disclose ,
Fiduciary Duty ,
FIfth Third Bancorp v Dudenhoeffer ,
Fraud ,
Inflated Projections ,
Insider Information ,
Misrepresentation ,
Plan Participants ,
Pleading Standards ,
Popular ,
Remand ,
Retirement Plans Committee of IBM v Jander ,
Reversal ,
SCOTUS ,
Securities Violations ,
Vacated